Nordea Investment Management AB lifted its stake in American Tower Co. (NYSE: AMT – Get Rating) by 4.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 521,776 shares of the real estate investment trust’s stock after purchasing an additional 23,934 shares during the period. Nordea Investment Management AB’s holdings in American Tower were worth $ 132,161,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of AMT. Morgan Stanley increased its stake in shares of American Tower by 26.7% in the 2nd quarter. Morgan Stanley now owns 4,272,674 shares of the real estate investment trust’s stock worth $ 1,154,222,000 after purchasing an additional 900,101 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in American Tower in the 3rd quarter worth $ 209,000. TownSquare Capital LLC increased its stake in American Tower by 30.4% in the 3rd quarter. TownSquare Capital LLC now owns 2,997 shares of the real estate investment trust’s stock worth $ 795,000 after buying an additional 699 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in American Tower by 0.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 123,077 shares of the real estate investment trust’s stock worth $ 32,666,000 after buying an additional 486 shares in the last quarter. Finally, SkyView Investment Advisors LLC increased its stake in American Tower by 8.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,141 shares of the real estate investment trust’s stock worth $ 303,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 91.00% of the company stock.
A number of equities research analysts have issued reports on AMT shares. StockNews.com started coverage on American Tower in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Bank of America assumed coverage on American Tower in a research report on Sunday, June 5th. They set a “buy” rating and a $ 315.00 price objective for the company. JPMorgan Chase & Co. upgraded American Tower from an “underweight” rating to an “overweight” rating in a research report on Tuesday. Wells Fargo & Company raised their price target on American Tower from $ 250.00 to $ 280.00 and gave the company an “overweight” rating in a research report on Friday, March 11th. Finally, Cowen cut their price objective on American Tower from $ 350.00 to $ 325.00 in a research report on Friday, February 25th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $ 290.29.
In related news, Director Robert D. Hormats sold 200 shares of the company stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $ 235.40, for a total value of $ 47,080.00. Following the sale, the director now directly owns 6,721 shares of the company stock, valued at $ 1,582,123.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rodney M. Smith sold 25,389 shares of the company stock in a transaction on Thursday, April 21st. The shares were sold at an average price of $ 270.00, for a total transaction of $ 6,855,030.00. Following the completion of the sale, the chief financial officer now directly owns 52,398 shares in the company, valued at $ 14,147,460. The disclosure for this sale can be found here. Insiders own 0.24% of the company stock.
Shares of NYSE AMT opened at $ 236.17 on Tuesday. The company has a market cap of $ 109.75 billion, a PE ratio of 40.86, a price-to-earnings-growth ratio of 2.31 and a beta of 0.48. American Tower Co. has a 12 month low of $ 220.00 and a 12 month high of $ 303.72. The company has a debt-to-equity ratio of 4.12, a current ratio of 0.51 and a quick ratio of 0.51. The company has a 50-day simple moving average of $ 248.57 and a 200-day simple moving average of $ 251.48.
American Tower (NYSE: AMT – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The real estate investment trust reported $ 1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $ 2.41 by ($ 0.85). The business had revenue of $ 2.66 billion for the quarter, compared to analyst estimates of $ 2.61 billion. American Tower had a net margin of 26.72% and a return on equity of 30.44%. The company quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $ 2.46 earnings per share. On average, analysts anticipate that American Tower Co. will post 9.65 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Friday, June 17th will be given a dividend of $ 1.43 per share. This represents a $ 5.72 dividend on an annualized basis and a yield of 2.42%. This is a boost from American Tower’s previous quarterly dividend of $ 1.40. The ex-dividend date is Thursday, June 16th. American Tower’s payout ratio is 98.96%.
American Tower Company Profile: (Get Rating)
American Tower Corporation, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 219,000 communications sites. For more information about American Tower, please visit the Earnings Materials and Investor Presentations sections of our investor relations website at www.americantower.com.
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